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|Sparton Corporation and Ultra Electronics USSI Joint Venture (Sonobuoy TechSystems) Awarded $21.1M in Foreign Sales Contracts|
ERAPSCO/SonobuoyTech Systems was awarded multiple foreign contracts for the manufacture of Passive and Active sonobuoys to support various underwater missions for detection, classification, and localization of adversary submarines during peacetime and combat operations.
Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra’s systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra’s positions for the long term which underpins the superior financial performance of the Group.
Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra’s overarching, corporate strategy.
Across the Group’s three divisions, Ultra operates in the following eight market segments:
Safe Harbor and Fair Disclosure Statement
Certain statements described in this press release are forward-looking
statements within the scope of the Securities Act of 1933, as amended
(the “Securities Act”), and the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). Forward-looking statements may be
identified by the words “believe,” “expect,” “anticipate,” “project,”
“plan,” “estimate,” “will” or “intend” and similar words or expressions.
These forward-looking statements reflect Sparton’s current views with
respect to future events and are based on currently available financial,
economic and competitive data and its current business plans. Actual
results could vary materially depending on risks and uncertainties that
may affect Sparton’s operations, markets, prices and other factors.
Important factors that could cause actual results to differ materially
from those forward-looking statements include, but are not limited to,
Sparton’s financial performance and the implementations and results of
its ongoing strategic initiatives. For a more detailed discussion of
these and other risk factors, see Part I, Item 1A, Risk Factors and Part
II, Item 7, Management’s Discussion and Analysis of Financial Condition
and Results of Operations, in Sparton’s Form 10-K for the year ended
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